Crowdsourcing Customers! Now that’s some Spin

Pratima H

CHENNAI, INDIA: It started in a coffee-shop in Singapore but it sounds like one those ideas that are usually suffixed with ‘why did anyone not think of this before?’ Connecting someone (from your network or friend circle) who is looking to buy a flat to a salesperson with possibly just the proposition – with the ease of a tap on the mobile - that's now a new platform too. Through an easy app, without revealing your particulars and also getting rewarded for it.

For the sales guy struggling under the pile of usual cold calls, it can almost be like a Godsend – the perfect timing with the perfect prospect who is actually looking for a good solution and would be open to a good idea. For the prospect it could be yet another pitch or the clincher of a lovely deal.

Like always though we love to play the Devil’s advocate and can’t help wonder if this would dial well on the lines of privacy, existing CRM fabric, convenience and market-readiness. But when Shankar G, Co-founder & CEO, Spini fleshes out the concept for us, he wielded these doubts and spun some of them around in an interesting way. Catch these ideas here.

What is Spini? What road has it covered from that coffee shop where the idea first brewed?

I knew the co-founders before and one day in early 2014 when we were chatting we mulled over the struggle that salespeople face at the funnel and how today’s CRM is more inclined on these people feeding reports for managers then actually getting some real sales help on the field. The co-founders had ideas that complemented mine and the idea just took off from there. Spini is basically a referral platform and an online marketplace where sales persons can source qualified sales leads and anyone can monetize information. It was established in 2014, and co-founded by me, Eddie Chau and Chong-Kian Soh in Singapore with India operations headquartered in Chennai. Right now we are focusing on Sales information around verticals like real estate, mortgage/loan and renovation.

And where is it headed next?

We are contemplating and testing on verticals like automotives and will gain some traction soon. The company has announced the closing of its first round of funding of $ 1 million from Walden International that will be used primarily to enable market expansion in India and strengthen its platform development portfolio. We started with Chennai and Bangalore and are taking it from one city to another next as local knowledge is a vital element. The roadmap is to go beyond India in next 18 months and towards markets like China, Indonesia, Hong Kong and Philippines.

It uses bidding as a component?

Yes reverse-bidding auction which allows one to bid for information for a business if it is relevant enough. For the salesperson, it reduces spends as well clutter considerably as this is precise information and at an accurate time. We have brought in new technology elements that take crowd sourcing to a new level and in a way that no one has done before.

So it taps the aperture moment in purchase cycle? But does it add up when it comes to existing CRM systems for the organization?

Yes, absolutely and once the sales is done, the data is no more relevant. Though CRM is a useful concept, most solutions are not actually helping sales folks on the ground. CRM systems are often reactive and more like some diary for the sales guy to fill in. At the end of the day, these people end up hating it instead of using it. But a tool which actually helps them instead of the manager for reporting is always welcome and way better.

And yet it is not a form of Shadow IT?

We have not yet integrated with existing CRM tools but roll outs can happen in future phases. It helps the sales team when they need information in crucial ways so it helps the organization.

Why would it not jeopardize privacy of information? There are many issues like third-party use of data and its safety that may spring up. Also, have you considered invisible data availability, like the one that taxi apps provide, keeping control on actual information themselves and just allowing a bridge between two parties?

The person who refers the data gets anonymity with pseudo name and even if you wouldn’t want to make money from a friend’s data you may recommend someone in the wider social circle. Also, the person won’t be bombarded with 100 calls as there is only a scope of maximum three salespeople getting the given lead. For those signing up as salespeople, a lot of verification happens and we do not engage into third-party associations. Our business is focused on connecting for salespeople. The idea of invisible data can be a future possibility.

How does the crowd sourcing flavor work here? What have you picked in terms of why some ideas fail here and some reach disruptive status?

It is a powerful approach if one knows how to play it right. We as normal people are offering data on Internet, online presence etc all the time. This is where willing participation kicks in. It is a brilliant opportunity for people with rich networks or sociable personalities. In fact a highlight of our platform is the community manager position that can unleash immense career prospects for people with the right skills.